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� ORIGI�IAL IMPROVEMENT AGREEMENT 201 MARSHALL STREET THIS IMPROVEMENT AGREEMENT("Agreement")is made and entered into on this_ �day of June, 2012 ("Effective Date") by and between 201 MARSHALL LLC, a Delaware limited liability company ("Developer"), and the CITY OF REDWOOD CITY, a charter city and California municipal corporation("City")with reference to the following facts: RECITALS A. Developer is the current fee owner of that certain real property consisting of approximately 0.70 acres located within the City of Redwood City, County of San Mateo, State of California, legally described in E�ibit A and depicted in E�ibit B, attached hereto and incorporated herein by reference(the"Property"). B. The Downtown Precise Plan requires that Developer construct and installs certain public improvements, as more specifically identified below. C. Developer has submitted to City plans, specifications and drawings entitled 201 Marshall Street Improvement Plans, prepared by BKF Engineers/Surveyors/Planners and dated May 24, 2012 (the "Improvement Plans"), which, in addition to other improvements, provide for certain on-site public improvements consisting of street and street light improvements, storm drain systems, domestic water systems and sanitary sewer systems for the Project(collectively,"Improvements"). D. City and Developer desire to enter an agreement providing for the construction and installation of the Improvements in accordance with the Improvement Plans. AGREEMENT NOW, THEREFORE, in consideration of the faithful performance of the terms and conditions set forth in this Agreement,the parties hereto agree as follows: 1. Purpose. The purpose of this Agreement is to guarantee completion of the Improvements and ensure satisfactory performance by Developer of Developer's obligations pertaining to the Improvements. 2. Dutv to Install Improvements. Developer will construct, install and complete, or cause to be constructed, installed and completed, at the Developer's sole cost and expense, the Improvements, in accordance with the Improvement Plans (defined in Recital C. above) and to the satisfaction of the City Engineer, in his reasonable discretion. Developer will also supply all labor and materials therefor, all in strict accordance with the terms and conditions of this Agreement. The Improvements shall include, but are not necessarily limited to, all of the following: (a) grading,paving (b) curbs, gutters,concrete walkways,driveways (c) sanitary sewer system, complete (d) permeable pavers, if used ATTY/AGR/2012.055/SUBDIVISION IMPROVEMENT AGREEMENT 201 MARSHALL REV:06-05-12 VR Page 1 of 16